Granite Construction Incorporated (NYSE:GVA) Plans Quarterly Dividend of $0.13

Granite Construction Incorporated (NYSE:GVA - Get Free Report) declared a quarterly dividend on Tuesday, March 18th, RTT News reports. Shareholders of record on Monday, March 31st will be given a dividend of 0.13 per share by the construction company on Tuesday, April 15th. This represents a $0.52 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date is Monday, March 31st.

Granite Construction has a dividend payout ratio of 8.5% meaning its dividend is sufficiently covered by earnings. Analysts expect Granite Construction to earn $6.97 per share next year, which means the company should continue to be able to cover its $0.52 annual dividend with an expected future payout ratio of 7.5%.

Granite Construction Stock Down 0.2 %

Shares of Granite Construction stock traded down $0.12 during trading on Friday, reaching $76.13. The company had a trading volume of 1,499,753 shares, compared to its average volume of 577,496. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.56 and a current ratio of 1.66. The firm's fifty day moving average is $83.95 and its 200-day moving average is $86.02. Granite Construction has a fifty-two week low of $52.99 and a fifty-two week high of $105.20. The company has a market cap of $3.31 billion, a price-to-earnings ratio of 30.82 and a beta of 1.34.

Granite Construction (NYSE:GVA - Get Free Report) last issued its earnings results on Thursday, February 13th. The construction company reported $1.23 EPS for the quarter, missing analysts' consensus estimates of $1.42 by ($0.19). Granite Construction had a net margin of 3.15% and a return on equity of 20.67%. The company had revenue of $977.30 million during the quarter. During the same period in the prior year, the firm posted $0.82 EPS. On average, analysts anticipate that Granite Construction will post 5.49 EPS for the current year.

Remove Ads

Insiders Place Their Bets

In other news, SVP Brian R. Dowd sold 2,025 shares of Granite Construction stock in a transaction on Friday, February 28th. The stock was sold at an average price of $81.55, for a total transaction of $165,138.75. Following the transaction, the senior vice president now directly owns 13,880 shares in the company, valued at approximately $1,131,914. This trade represents a 12.73 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO James A. Radich sold 2,500 shares of the business's stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $87.14, for a total transaction of $217,850.00. Following the completion of the sale, the chief operating officer now owns 28,256 shares in the company, valued at approximately $2,462,227.84. This trade represents a 8.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.81% of the stock is owned by insiders.

About Granite Construction

Granite Construction Incorporated operates as an infrastructure contractor in the United States. It operates through two segments: Construction and Materials segments. The Construction segment engages in the construction and rehabilitation of roads, pavement preservation, bridges, rail lines, airports, marine ports, dams, reservoirs, aqueducts, infrastructure, and site development for use by the public and water-related construction for municipal agencies, commercial water suppliers, industrial facilities, and energy companies; and construction of various complex projects, including infrastructure/site development, mining, public safety, tunnel, solar storage, and power related projects.